Changes may be made to how overseas remote working will be taxed

Singapore

THE Covid-19 pandemic has made working remotely, virtual meetings and a whole host of related digital arrangements part of the new normal - much to the satisfaction of a significant portion of the workforce. But these new developments have also created challenges for tax authorities around the world, and increased tax risks for companies.

In a survey of 500 chief executives in 11 key markets - Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, the United Kingdom and the United States - global professional services firm KPMG found that tax risk had risen to become the second-greatest threat to growth for companies over the next three years, surpassed only by cybersecurity risk.